About M&G India
We are M&G India, the strategic innovation and digital hub for M&G. Established in 2003, we have offices in Mumbai and Pune.
Our teams work closely with colleagues across the Group worldwide to drive transformation, build digital capability, and support sustainable growth. By leveraging technology, AI, automation, and process excellence, we bring new ways of thinking to improve outcomes for both customers and colleagues.
Grounded in a vibrant culture with strong foundations, we are central to how M&G is transforming as a business.
About M&G
Our purpose is to give everyone real confidence to put their money to work. With a heritage dating back more than 175 years, we have a long history of innovation in savings and investments, combining asset management and insurance expertise to offer a wide range of solutions.
Our two distinct operating segments, Asset Management and Life, work together to provide access to balanced, long-term investment and savings solutions.
Through telling it like it is, owning it now, and moving it forward together with care and integrity; we are creating an exceptional place to work for exceptional talent.
- Roles & Responsibilities
- Responsible for the accurate financial reporting of the balance sheet/ income statement (both on a Group and local statutory basis) to ensure compliance with accounting standards (UK GAAP, IFRS) and local regulatory requirements (Solvency II) and maintain the balance sheet/ income statement accounts in the statutory ledgers for the assigned M&G Insurance entities
- Perform the quarterly GL close and reconciliations for complex areas of the Balance Sheet/ Income Statement ensuring the accuracy and completeness thereof
- Support the team to complete the quarterly GL close and reconciliations for assets and liabilities/ movements of revenue and expenses
- Prepare and support all workings for input into Tagetik for disclosures purposes ensuring compliance with reporting requirements
- Conduct and supervise the detailed analysis of charges and expenses for the Unit -Linked business at product level. Provide insights based on analysis.
- Prepare and support all Solvency II workings for input into Tagetik and ensuring compliance with Solvency II reporting requirements (i.e. quarterly and annual quantitative reporting templates (QRTs) for Solvency II Balance sheet, Assets and Own Funds and Premiums, claims and expenses)
- Support the resolution of validation errors into the consolidation tool
- Support the facilitation of the late adjustment process and work with Finance Operations to meet tight deadlines
- Ensure compliance with current accounting standards and Insurance procedures to maintain a robust financial control regime
- Act as a key point of contact between the finance team and the lead. Supporting the Senior manager and other team members in their duties, providing guidance and assistance as needed.
- Support the implementation of new accounting standards and delivery of other finance change projects including ad hoc projects to support continuous improvements and process enhancements
- Internal and external audit support for areas of responsibility
- Collaborate effectively with colleagues & maintain effective working relationships with other teams across M&G Finance, ensuring that insurance reporting needs are communicated, understood and met
Key Stakeholder Management
Internal
- Reporting Analysis team
- IFRS 17 Production team
- Internal data suppliers; Finance Operation, Core actuarial team, etc.
- Change team
- Group Reporting team
- Internal audit team
- Finance technology team
External
- External auditors
- External data suppliers e.g. third party system administration
Knowledge, Skills, Experience & Educational Qualification
Knowledge & Skills:
- Knowledge of UK GAAP and IFRS (or the equivalent) principles.
- Knowledge of regulatory Solvency II is advantageous.
- High analytical skills and attention to detail to identify trends and discrepancies and provide insights.
- Proficient in Excel and handling large volumes of data.
- Support others to execute their responsibilities.
- Ability to work to deadlines and prioritise workload.
- Practical experience using a general ledger and consolidation solution tool.
- Ability to collaborate and work effectively as a team and independently.
- Ability to investigate and resolve complex financial reporting issues and discrepancies effectively.
Experience:
- Knowledge and experience of the production and delivery of financial reporting for an Insurer / Insurance Accounting experience.
- Prior experience in Life Insurance is required.
- Experience in accounting for With Profits products and its complexities (advantageous)
- IFRS 17 experience is beneficial.
- Familiarity with local regulations, particularly Solvency II, is beneficial, though not required.
We have a diverse workforce and an inclusive culture at M&G Global Services, regardless of gender, ethnicity, age, sexual orientation, nationality, disability or long term condition, we are looking to attract, promote and retain exceptional people. We also welcome those who take part in military service and those returning from career breaks.
